Current Affairs - International - Discussion
Discussion Forum : International - Latest Current Affairs (Q.No. 80)
80.
Which country is positioning itself to become a global hub for arbitration and other alternative dispute resolution mechanisms?
Answer: Option
Explanation:
India is actively working to become a global hub for arbitration by strengthening its Alternative Dispute Resolution (ADR) framework, which includes arbitration, mediation, and conciliation. At a high-level conference in New Delhi, Union Law Minister Arjun Ram Meghwal highlighted the government's efforts to create a fast, efficient, and investor-friendly dispute resolution ecosystem. These efforts aim to reduce the burden on courts, attract global businesses, and ensure the timely resolution of commercial disputes. By promoting institutional arbitration over ad hoc processes and encouraging minimal judicial intervention, India is laying the foundation to emerge as a preferred destination for international dispute settlement.
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